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 Replies: 21 / Views: 3,184 |
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Valued Member
United States
183 Posts |
I was just looking around their websites, and I'm pretty shocked. For the most basic basic coin, say a proof 1959 penny, it would cost me at MINIMUM of $60! That is ridiculous, why would anyone ever want to do this unless you had a really really expensive coin ?
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Valued Member
United States
374 Posts |
A lot of people collect them expensive coins. For one, I couldn't sell my 1970 1C sd/ld proof for $300 in an ANACS slab - but it got bought up quick for $400 in a PCGS one.
I also get slabbed particular coins that I know I want to preserve in the best condition I can for my son, don't care what it is worth, don't care what it costs, I just want it to look nice for my (now 2 yr old) son when he gets older.
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Valued Member
 United States
183 Posts |
That's nice for your kids sake!
I was just thinking it would be nice if they had a service for the common folk, but as always in today's society, money talks!
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Pillar of the Community
United States
1156 Posts |
I've used both PCGS and NGC for coins that I've purchased for as little as $85 USD. Granted, many of those were slabbed 4-5 years ago when it probably cost me $35/coin for the service so I might not choose to do that today. Some coins, like portrait 8 reales, are commonly sold as genuine but are not (just take a look at what's being offered on ebay recently) Getting them certified by a top tier TGP is some protection of their value. From the other side of the transaction, buying a graded coin is the safest way to collect a problem-free coin, if that's what you are after. ~jack |
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Pillar of the Community
United States
7621 Posts |
It costs the grading company the same amount of money to process and slab a 1959 Proof cent as it does a 1909-SVDB cent. It has to be logged in, added to the data base, set up for the grading room, graded, sent for encapsulation, checked, rechecked, prepared for shipping, checked again, packaged up and sent to the shipper. Whether the coin is worth $1 or $1000 the costs (overhead, labor, etc) to handle it stay the same.
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Pillar of the Community
United States
1158 Posts |
I asked the same thing earlier about modern proofs. I saw some 2010 PCGS graded dimes and nickels going for $12. Seems a bit counterproductive for a seller to have coins like that graded. .
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Moderator
 United States
23522 Posts |
Quote:
That is ridiculous, why would anyone ever want to do this unless you had a really really expensive coin ? That's the point - you only do it for expensive coins. |
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New Member
Canada
26 Posts |
Hey Jack - jgenn
I have an obviously counterfeit portrait 8 reales in an NGC holder. It is number 3587658-141 if you want to see it at the NGC site. They went so far as to call it an 1805MO TH MEXICO 8R WIDE DATE
Check the silver [lating wearing off all over and the copper(mostly toned but red in places) showing through.
Gord
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New Member
Canada
26 Posts |
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Pillar of the Community
United States
1156 Posts |
Hi Gord, My opinion is that TPG certification is not a guarantee of authenticity but a guarantee of your investment (as far as the TPG policy goes). I've looked at your coin and it looks like a contemporary counterfeit and might be worth more than the genuine. Maybe swamperbob or Colonial John can weigh in with their options. You might want to post it to a new thread in the World Forum. ~jack |
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Pillar of the Community
United States
531 Posts |
This question comes up regularly. If your collecting focus is on how much money can I make today I can understand why people ask this. Collecting can be driven by more than profit motive. Since the advent of TPGs questions have been asked about the grading accuracy and consistency. The pic below is of a set of 1864 Large Motto Two Cent Pieces that I have been working on for some time. I still need examples in F-01 and P-02 grades. Eventually it will turn in to an Exhibit at my State Numismatic Society annual convention.  |
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New Member
Canada
26 Posts |
Jack
I know Bob and John quite well. I don't know where the World Forum is though. I'm quite new here. What forum is this that I am on right now?
Gord
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Pillar of the Community
United States
5208 Posts |
Would NGC be able to grade a an 1864 lower than AG3 given the 2 mottos as the motto would be obliterated at that grade with no way to tell small vs large other than to ASSUME it was the large because of the mintage?
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Pillar of the Community
United States
531 Posts |
They would be able to. There are quite a few differences in the Large Motto obverse versus the Small Motto. Some of those differences survive the wear such a low grade coin would have. I recommend Kevin Flynn's latest book on Two Cent Pieces titled "The Authoritative Reference On Two Cent Coins". |
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Valued Member
United States
183 Posts |
tkbslc hit it on the head with his post. You see slabbed PCGS coins on ebay for 8-12 bucks sometimes, why would they even get those slabbed in the first place ? |
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Pillar of the Community
United States
531 Posts |
Those are usually from a bulk grading order. The submitter makes their money on the 70 grades received and they dump the lesser grades on ebay. They don't lose money, trust me. |
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Replies: 21 / Views: 3,184 |
Posted 07/09/2014 1:29 pm
